NOIDA, Jan. 14 -- The Noida authority will grant developers another opportunity to avail benefits under the Uttar Pradesh government's 2023 scheme for stuck housing projects. The decision extends a lifeline to builders who have so far failed to deposit the mandatory 25% of their total financial land dues.

The authority had previously proposed in 2024 to withdraw these benefits, which include substantial interest waivers on outstanding land cost payments.

However, the governing board has now opted for a more conciliatory approach. "The board has reversed our earlier decision and decided to give another opportunity to the developers who want to use the benefits of the December 21, 2023, scheme," Noida authority CEO Lokesh M told HT on Mon...